Energy Department: U.S. Oil Supplies May Drop by 1.5 Million Barrels

CBS News reported that according to the Energy Department, U.S. crude oil supplies are expected to drop by 1.5 million barrels last week.

As quoted in the market news:

Analysts expect gasoline supplies dropped by 2.3 million barrels, distillate stocks — which include diesel and heating fuel — were unchanged and refinery utilization declined by 0.3 percentage point to 92.5 percent of capacity.

Click here to read the full CBS News report.